Subscribe to India Pesticides: Geojit


Geojit has reach out with its document on India Pesticides. The be taught company has suggested to ''Subscribe'' the IPO in its be taught document as on June 22, 2021.

Broker Analysis

June 23, 2021 / 12: 20 PM IST

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Geojit IPO document on India Pesticides

India Pesticides Ltd (IPL), included on December 13, 1984 at Bareilly, Uttar Pradesh, is an R&D driven agrochemical manufacturer of Technicals (contributes ~79% to total FY21 income) with a rising Formulations industry. IPL is the sole Indian manufacturer and one amongst the leading manufacturers globally of 5 Technicals cherish Captan, Folpet and Thiocarbamate Herbicide, by system of manufacturing skill. (Supply: F&S Reviews). As of FY21, 56.7% of total income is generated from exports to over 25 countries. IPL has two manufacturing companies and products positioned at Lucknow & Hardoi in Uttar Pradesh, India with a mixed installed skill of 26,000 MT for Technicals and Formulations with a utilisation payment of 77% and 73% respectively in FY21.

Valuation and Outlook

We put a “Subscribe” ranking for the negate on a rapid to lengthy-time-frame basis inquisitive about steady R&D, sure agrochemical sector outlook, negligible debt, healthy margins and return ratios of the firm.

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